Serengeti fiscal results, drops Atty option

SERENGETI ANNOUNCES FILING OF ANNUAL FINANCIAL STATEMENTS

Serengeti Resources Inc.’s audited financial statements, and management discussion and analysis for the year ended Feb. 29, 2020, have now been filed and can be accessed for review on SEDAR.

Further to the company’s news release of June 15, 2020, the company has now received TSX Venture Exchange acceptance and issued 272,104 common shares in the capital of the company at a deemed price of 19 cents per share in settlement of $51,700 of debt owing to certain creditors who are at arm’s length. The shares issued by the company are subject to a statutory hold period which expires Oct. 25, 2020.

Additionally, the company announces it has made the decision to discontinue its option for the acquisition of the Atty property from Finlay Minerals Ltd. and adjacent ATG claims from Electrum Resource Corp., returning these properties to the vendors. No further work or payments are due, and the properties have been written down.

About Serengeti Resources Inc.

Serengeti is a mineral exploration company managed by an experienced team of professionals with a solid record of exploration success. The company is currently advancing its majority-owned, advanced Kwanika copper-gold project and exploring its extensive portfolio of properties in north-central British Columbia.

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